Reading Charts in Real Time

[Cory2679 11]

Maybe another shot at a GU short...

 

If I would have had my stop at the swing high on that last trade, I'd still be in it...hmm...

 

UPDATE: That's close enough to my BE line to get me to BE (+1 tick).

 

UPDATE 2: Stop moved down slightly.

 

FINAL UPDATE: Taken out for an insignificantly small profit. Oh what a start to the week...

Edited December 20, 2010 by Cory2679

[Cory2679 11]

Well, going short the GU isn't getting me anywhere this morning...maybe it's time for a long attempt...

 

UPDATE: Meh...order canceled...I don't like how close the entry is to potential resistance...and it kind of looks corrective IMO...

Edited December 20, 2010 by Cory2679

[Cory2679 11]

Potential long out of this consolidation on the EU...the EU is holding up rather nicely as the GU gets slammed...

[Cory2679 11]

Potential long out of this consolidation on the EU...the EU is holding up rather nicely as the GU gets slammed...

 

UPDATE: Filled, and subsequently taken out for a stupidly small profit.

[Cory2679 11]

Potential EU short...

 

UPDATE: We've returned to the zone of chop/consolidation...stop now @ BE (+1 tick).

 

FINAL UPDATE: Taken out @ BE (+1 tick). I am about to lose my mind.

Edited December 21, 2010 by Cory2679

[Cory2679 11]

Potential EU long...back and forth back and forth haha...

 

UPDATE: Filled and my stop is moved up a little bit. I'll be shocked of I don't get stopped out of this one. I'm doing horrible this week. I'm so upset. I'd gotten to the point where I thought I was more or less consistently profitable week to week!...I should have known it was too good to be true. :crap:

Edited December 21, 2010 by Cory2679

[Cory2679 11]

Potential EU long...back and forth back and forth haha...

 

UPDATE: Filled and my stop is moved up a little bit. I'll be shocked of I don't get stopped out of this one. I'm doing horrible this week. I'm so upset. I'd gotten to the point where I thought I was more or less consistently profitable week to week!...I should have known it was too good to be true. :crap:

 

FINAL UPDATE: Stopped out, as expected. I shouldn't have been in that trade...I'm currently down 1.22R for the week! I'm stepping away now to cool down. It's probably only delusion that keeps me working at this stuff...

 

I had high hopes for this week because I was back at it on my normal schedule...last week I was sleep deprived and traded from a hotel room and I managed to squeeze out 3.34R! I guess I was just on a lucky streak over the past several weeks. :crap: I think deep down I knew that...that's why I'm demo-trading...because I know sooner or later I'm sure to net a loss.

[blueberrycake 10]

I'm doing horrible this week. I'm so upset

 

Looking at the trades that you've posted, a lot of them are in the middle of consolidation zones. I think being more selective about such trades may have a positive impact on your win/loss ratio.

 

-bbc

[lblanks 10]

Possible long in 6B (GU)

 

Update low taken out. order cancelled

 

Cory: I would suggest that you follow my trades...just do the opposite of what I do. I am an almost perfect contrarian indicator. I go long--you should immediately short. In fact I would suggest 10x your normal position

Edited December 21, 2010 by lblanks

[Cory2679 11]

Currently short the GU...stop @ BE (+1 tick)...

 

UPDATE: Taken out @ BE (+0.9 ticks).

 

Possible long in 6B (GU)

 

Update low taken out. order cancelled

 

Cory: I would suggest that you follow my trades...just do the opposite of what I do. I am an almost perfect contrarian indicator. I go long--you should immediately short. In fact I would suggest 10x your normal position

 

lblanks: I didn't see your post (EDIT: the part of your post to me) until after I posted my short GU post...that's funny...I will admit...your post did draw my attention to the GU, where I then saw what I considered as a potential for a short. I honestly didn't simply "do the opposite" of what you said. haha. That was funny timing, though.

Edited December 21, 2010 by Cory2679

[lblanks 10]

Possible short in NQ

[lblanks 10]

Possible long in 6b (just got filled)1.5441 long

 

Update moving SL to -8

 

Update SL to -5

 

Update SL moved to BE +1

 

Update stop moved to +10

Edited December 21, 2010 by lblanks

[lblanks 10]

Currently short the GU...stop @ BE (+1 tick)...

 

UPDATE: Taken out @ BE (+0.9 ticks).

 

 

 

lblanks: I didn't see your post until after I posted my short GU post...that's funny...I will admit...your post did draw my attention to the GU, where I then saw what I considered as a potential for a short. I honestly didn't simply "do the opposite" of what you said. haha. That was funny timing, though.

 

I was only kidding...sometimes I feel like I have a reverse midas touch

[Cory2679 11]

I was only kidding...sometimes I feel like I have a reverse midas touch

 

Well, I would say "just hang in there, you'll get it"...however, I can't really say that seeing as that has not been my experience thus far. haha (I currently have a pretty negative attitude...I'll get over it in a few hours, though...once the delusion kicks in again...haha)

[lblanks 10]

Does Thales still post here or did the trolls finally run him off?

[thalestrader 14]

I'm still here, and I check in early and often. I have just been in lurker mode.

Best Wishes,

 

Thales

[lblanks 10]

Short in NQ 2232.25 Here we go....

 

SL moved -4 2233.25

 

Stopped out -4

 

Stopped out of 6B +10 ticks

Edited December 21, 2010 by lblanks

[lblanks 10]

Good to "hear your voice" I have been working my way through the thread and trying to apply what I have learned. I just finished the Rashke "mental performance" MP3 and really enjoyed it. It was LBR doing a end of year planning session. Vry helpful. Thanks again for all your work.

[Cory2679 11]

Currently long the UJ...I'm going to go eat breakfast while it does its thing...

[Cory2679 11]

Currently long the UJ...I'm going to go eat breakfast while it does its thing...

 

UPDATE: Full loss. I was giving it a little "breathing room" because of GDP...I would have moved my stop up to the dashed red line, otherwise.

 

I felt good about going long at this level...I've attached a 4H chart to provide more context.

 

Needless to say, I am devastated with my performance this week. I was obviously on some sort of dumb luck winning streak that has now been struck. I'm no better off than I was a year ago...still a loser. The sooner I give this stuff up the better off I'll be. I'm obviously not cut out for it. I think I'm going to quit posting here. What's the point?

 

I feel like a freaking idiot. And people could comment...you should do this or you should do that...but chances are, I've heard it before. I know all that. I just can't put it into practice in a way that yields profit.

 

I don't know what to do...it is my dream to become a self-managed trader...but it's not looking good...if I were an objective observer, I'd be betting heavily against my success...so why do I continue? I don't know...delusion, I guess.

[Cory2679 11]

I'm planning for this to be my last post to TL for quite a while...I've just been polluting this thread with my garbage.

 

Maybe the delusion is kicking back in, but I've calmed down some and I'm feeling a little better. This has been my worst week in a long time...I'm currently down 2.19R for the week. That's really not even that awful, I guess...that's basically just one good winning day's worth of R. Heck, I'm still positive just between this week and last week.

 

I'm going to stop the bleeding and take the rest of the week off from trading, and just work on trading. I have some ideas of what I'm doing a little different and the reasons why (I won't bore you with the details).

 

I'd been doing relatively well lately...I hardly think a 2R drawdown is a good reason to throw in the towel.

[stpips89 10]

[ame=http://www.youtube.com/watch?v=_1KUWGS0xKk]YouTube - Pin Bar Forex Trading Strategy with Trend[/ame]

[snowbird 10]

 

... I'd been doing relatively well lately...I hardly think a 2R drawdown is a good reason to throw in the towel.

 

agreed.. draw downs are an expected normal part of trading.

 

a little curious when looking at some of your past trades... do you identify areas of supply and demand on your charts before placing trades, along with a plan of what to do depending on how price reacts to those levels? Those levels can of course be exhausted/broken, and often must fail for a trade you place to work, but they usually will not fail on the first test.

 

just something to think about if you are going back to the drawing board.

[lblanks 10]

Potential long 6 A

Entry .9938

1st Target .9963

 

SL moved to .9931

 

Stopped out -7 Grrrr...

Edited December 27, 2010 by lblanks

[lblanks 10]

Possible Long in NQ 2216

 

Update Filled at 2216

SL at 2212.75

Edited December 27, 2010 by lblanks